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07-Sep2016

JSPL advances on setting up India's first plant to manufacture Head Hardened Rails

Jindal Steel and Power (JSPL) is currently trading at Rs. 85.25, up by 2.60 points or 3.15% from its previous closing of Rs. 82.65 on the BSE.

The scrip opened at Rs. 83.40 and has touched a high and low of Rs. 85.75 and Rs. 82.80 respectively. So far 8,21,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 98.10 on 31-Dec-2015 and a 52 week low of Rs. 48.20 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 86.35 and Rs. 81.25 respectively. The current market cap of the company is Rs. 7,799.00 crore.

The promoters holding in the company stood at 61.89%, while Institutions and Non-Institutions held 21.33% and 16.77% respectively.

Jindal Steel and Power (JSPL) has set-up the country's first plant to manufacture Head Hardened Rails becoming the only manufacturer of 'Head Hardened Rails' for modern hi-speed trains and metros.

The plant with an investment of Rs 200 crore is capable of delivering 30,000 MT of rails per month and has been set up in technical collaboration with M/S SMS MEER, Germany. Head Hardening technology entails a special heat treatment process which requires very precise temperature control to achieve nearly 50% higher hardness as compared to a normal rail.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.



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